ONEOK, Inc. and EnLink Midstream, LLC announced on January 30, 2025, that EnLink unitholders have approved ONEOK's previously announced acquisition of the remaining publicly held common units of EnLink. Preliminary results from the Special Meeting of Unitholders showed approximately 99.8% of the common units voted were in favor of the transaction.
This approval represents 82.9% of EnLink's outstanding units. The acquisition is expected to close on January 31, 2025, with EnLink common units anticipated to cease trading on the New York Stock Exchange prior to market open on that day.
Upon completion, each outstanding common unit of EnLink not owned by ONEOK will be converted into 0.1412 shares of ONEOK common stock. This approval marks a critical step in strengthening ONEOK's integrated midstream business and diversifying its platform.
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